What a fund ends up holding once the funds inside it are unwrapped, and where that collides with the fund’s own exclusion list. 84 funds issued by Danske Invest, part of Danske Bank. Compiled 2026-08-24 from each fund’s most recently published holdings, which the manager releases with a delay of about a month.
A fund’s published holdings list can name another fund instead of a company. Everything that fund holds is then invisible on the list a customer actually reads. Unwrapping those layers shows the companies behind them.
A flag means the fund holds a company its own exclusion list names. That is mostly not a breach. The manager allows excluded companies to reach a fund indirectly, through an underlying fund, up to 1.0% of the fund. Tested on that basis every one of the 84 funds stays inside the cap, the largest being 0.67%. What the cap does not cover is a company held directly, and 22 funds do that.
A confirmed match is verified as the company the exclusion list names. An unconfirmed one is not verified as the same legal entity and may be a financing arm or a related company, so it is counted separately and never in the figures above. The most opaque fund is June 20 Class A-dkk, 62.7% of which sits in wrappers this page cannot open.
Share of each fund that sits in wrappers this page cannot open. Every other fund is under 0.5%.
third-party wrapper the manager’s own fund, not published
| Company | In funds | Held directly | Exclusion category |
|---|---|---|---|
| Multi Commodity Exchange of India Ltd | 20 | 3 | Sustainability risks |
| Occidental Petroleum Corporation | 19 | 12 | Fossil sector: no credible transition plan |
| Ningbo Deye Technology Co., Ltd. | 19 | 2 | Good governance |
| BHP Group Limited | 15 | 7 | Fossil sector: no credible transition plan |
| Excelerate Energy, Inc. | 14 | 2 | Fossil sector: no credible transition plan |
| Petroleos Mexicanos EPE | 12 | 0 | Fossil sector: no credible transition plan |
| Petroleos Del Peru - Petroperu SA | 12 | 0 | Fossil sector: no credible transition plan |
| OMV AG | 11 | 9 | Fossil sector: no credible transition plan |
| Bapco Energies Sukuk Ltd. | 11 | 0 | Fossil sector: no credible transition plan |
| Pampa Energia SA | 11 | 0 | Fossil sector: no credible transition plan |
| CenterPoint Energy, Inc. | 9 | 7 | Thermal coal |
| Franco-Nevada Corporation | 9 | 6 | Fossil sector: no credible transition plan |
| Fund | Issuer | SFDR | In other funds | Opaque | Companies | Confirmed | Confirmed weight | vs 1.0% cap |
|---|